a generic tag related to accumulating cash or bank deposit savings.

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0
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1answer
71 views

Saving when saving is really hard

I read the article of saving, and i like the answer but it miss some points.e.g if i earn 1700 and have a baby on way. I am still living with my in laws as i am new in this country. So in my estimate, ...
5
votes
1answer
74 views

Should I do the volume discount even if it will strain my short-term budget?

For simplicity let's say my monthly food budget is $500. My university has a plan where if you buy $400 worth of 'university currency' you get another $100 free. If I were to do that, I would save ...
1
vote
1answer
41 views

Managing an Account with Multiple Categories

Assume I setup and account that has multiple categories, say I have 1000 to invest, and I do something like this: 300 Kid 1 college 300 Kid 2 college 150 Emergency Fund 250 New House It is ...
0
votes
0answers
101 views

Long term investment for money

I have some money I would like to put into very long term savings. At least 40+ years. What's the best way to save the money? I would like to accrue as much interest as possible and get a headstart ...
1
vote
1answer
57 views

Strategy to save the most on interest

I'm planning on applying for a credit card that offers 0% APR on balance transfers for 15 months and $0 balance transfer fees. I'm thinking on using this card to pay down some of my student loans. ...
2
votes
2answers
474 views

Best starting options to invest for retirement without a 401k

I'm trying to avoid asking a duplicate question, but I feel my situation is more specific than general beginner's saving or investing. I am a university student with a part time job that does not ...
1
vote
1answer
95 views

Annuities and varying interest rates?

The gist: Let's say I have $12,000 and have $240 a week in which I can invest into an ordinary annuity. Let's say I invest $1040 a month as opposed to $240 a week. The interest rate is 3% p.a. ...
3
votes
1answer
73 views

Sending money as gift to India from US

So, the story. A Indian citizen is working in US and is earning a lot of money. If he transfers 10K USD to parent's account in India as "Gift", then he can claim that amount to be tax exempted in US. ...
3
votes
2answers
165 views

Is it a good idea to put everything in the S&P500?

I've maxed out my IRA, have a three-month emergency fund, and have paid off all my debts. I have some remaining money to invest and don't have any short-term goals to spend it on. While my priorities ...
0
votes
1answer
108 views

should I save more money to purchase a Used car or borrow from my office?

please suggest me should a save more money to purchase a used car or borrow money from my office where I work. I have half of the amount that costs the car I want to buy. kindly suggest me. PS my ...
0
votes
3answers
135 views

Acquiring first office clothes

I'm currently a student who will be starting out in a position where business attire is almost a given. The thing is that saving up for suits, a change of shirts and dress shoes seems very hard on the ...
5
votes
4answers
752 views

Is it possible to get a 3% yield that is FDIC insured or super low risk?

I just graduated from college and i am already planning my retirement. I know about 401k and i have that figured out already but in terms of money sitting in my bank account post retirement, assuming ...
0
votes
3answers
97 views

Should I use my non-tax advantaged investment account to pay off debt?

Hello Personal Finance! So about 8 years ago, I got into a bad car accident which was not my fault, and which I sued the driver because they tried to drive away afterwards. I got a large settlement ...
2
votes
0answers
72 views

Can I earn more on my cash savings and still keep it liquid and low risk? [duplicate]

So, my wife and I do a pretty good job of budgeting and saving for things, which means we have a lot of cash laying around. Between a $15k emergency fund, savings for car replacement and repairs, ...
2
votes
0answers
47 views

Foreigner wishes to open a US bank account

My mother-in-law has had bank accounts in the US for many years. She has a social security number but she is too frail to travel here. My wife has Power of Atty. giving her specific powers to open a ...
4
votes
2answers
130 views

What do I do with my extra money in grad school?

I am privileged to have started grad school debt-free and am now earning money as part of the program. I have saved enough money to cover my expenses for a month and a half in a fairly ...
4
votes
1answer
209 views

What are my options to make my money work for me?

I came to this site because I want to see what are my options with my current situation. I should start by saying that I am from Serbia and I possess no other citizenship. I have recently finished ...
9
votes
2answers
824 views

How to represent mortgage overpayments in household budget

I keep a household budget spreadsheet, one tab of which represents our savings. Some of our savings is in traditional savings vehicles (ISAs etc.), but some of it has been used to overpay the ...
2
votes
1answer
75 views

Does it make sense for me to start a 529 college plan for my kids

My kids are 11 and 15. I've neglected to save any money for college for them, but I want to start now. Given that I am starting out this late, does the 529 college make sense at this stage? If I ...
2
votes
1answer
139 views

Should I put a small amount of savings in a high interest savings account?

The highest in Canada that I've found is 2.8% interest, compounded annually where the interest is calculated daily. I have $2000, and the initial amount and the interest earned is guaranteed by a ...
12
votes
8answers
3k views

Mortgage or not?

I am 57, spouse 53. I lost my 30+ year business in 2009, decelared personal bankruptcy and now have only $4K in retirement accounts. The positive news is that I am employed; my income is 110K, hers is ...
1
vote
4answers
189 views

How to save money for future expenses

I need some advice on saving money. I am 30 and married and housewife and I am going to have a child in few months. My husband is working and has poor savings habits. I want to know how can I save ...
3
votes
1answer
87 views

How does my higher rate tax on savings interest get paid. **UK, pre-2016**

I earn over £42k, the limit for higher rate tax. See here. This means I have to pay higher tax on my savings accounts. See Here. Higher or additional rate taxpayers You must pay extra tax on ...
0
votes
1answer
168 views

How much should be our expense and savings ratio? [closed]

What is the right ratio of expense to savings ? is 80-20 alright ? Although we follow high standard living, here in Bharat(India) we can save upto 50%.
-1
votes
1answer
67 views

Just getting started and not sure where to go from here

TLDR; at bottom Hello and thank you ahead of time for any response. I'm 18 and trying to figure out where to go next. I already have an emergency fund (of sorts), no debt, and a few different ...
9
votes
4answers
740 views

Saving for a non-necessity

How can I responsibly save for a non-necessity purchase? I'd like to buy a PlayStation 4. As you may know, I can't eat or live in said PS4. Buying something that is more than a week's worth of pay ...
0
votes
0answers
23 views

Managing risk: financial risk due to future health problems as a dollar amount

I am analyzing my long-term saving goals against the overall strategy of reducing my risk in various areas. One of the areas of risk I want to reduce is that of financial woes due to future health ...
2
votes
4answers
302 views

Building financial independence

In my very late 20s I am working hard to become financially independent. I have a good job paying between 74-80k a year. I can live (pay rent, food, entertainment) for $1k a month. So after taxes I ...
3
votes
1answer
112 views

How exactly do I determine my savings rate?

Surely it's not nearly as simple as (amount saved)/(take-home pay), since if I make pre-tax contributions to a 401(k) or HSA I pay less in taxes, and money I save in not being taxes is, well, money ...
1
vote
1answer
44 views

Currency forecasts for ordinary people

I'm in a situation where I earn money in one country and have debts in another, and/or intend to relocate there eventually. Thus, at some point I'll have to transfer my earnings to another currency. I ...
3
votes
2answers
692 views

United Kingdom: Where to save money for a property deposit

I'm currently 22, and I would like to buy a property at some point in 5-10 years, once I can afford the down payment (deposit). I live and work in London England, so for this example, assume my ...
4
votes
2answers
128 views

What to do with your savings in Japan

In Japan, most banks offer very low (less than 0.02%) interest rates for saving accounts. Is there any better way to save money in Japan than theses saving accounts Should be relatively liquid ...
1
vote
3answers
135 views

Small capital investment in Germany

Since from next year I'm planning to take a peek at the brick market in order to buy a house (I'm going to ask a loan - therefore I need a capital to begin with) here in Germany where I live, I'd like ...
-2
votes
1answer
84 views

From ACH direct debit to Prepaid card?

I am searching for solution how to be direct debited (ACH) to personal or business bank account where those funds would arrive (deposit) to prepaid card? The solution must meet all three of the ...
2
votes
2answers
409 views

Current Account Monthly Pay In

I've seen from a question here, along with some reading I've been doing on MSE that I can have multiple current accounts at the same time. What I'm trying to do now, is to work out if I can use this ...
1
vote
2answers
244 views

How do I begin investment saving, rather than just saving in a bank account?

For years, I have been earning and saving my money in my bank account, putting aside emergency and future funds into my "savings" account, and money for bills and personal expenses in my "checking" ...
9
votes
6answers
1k views

What should a 21 year old do with £60,000 ($91,356 USD) inheritance?

I'm turning 21 years old soon and have an inheritance coming into my control to the value of approximately £60,000. I'm full-time employed, as a Software Developer in a Financial Services company. I ...
1
vote
0answers
44 views

Most effective instant access savings for a child - UK

We have a maxed out stocks and shares ISA for our baby - what is the most effective non-term limited account that can be in her name? We're thinking it will be useful for birthday parties, clothes ...
2
votes
4answers
351 views

How can a 'saver' maintain or increase wealth in low interest rate economy?

If low interest rates disadvantage 'savers' what are they supposed to do if they are not inclined to buy and spend? Where should you put your money (instead of it stagnating in low interest rate ...
3
votes
1answer
253 views

Savings account with mango money for emergency fund

I have just started my career a couple of months back and plan to save money for emergency funds. I was browsing the internet for a good savings account and came across Mango Money savings (6% APY ...
-1
votes
1answer
91 views

What is the best way to increase the earned money staying in US for an NRI?

Im living in US from last 1 year due to work assignment and will be here for another 3-4 years. What is the best way to earn interest on earned money? Shall I send all earned money to India ...
3
votes
2answers
66 views

Automate Savings by Percentage on varying paychecks?

My boyfriend's paycheck varies every week because the hours he works depend on the volume of business. While usually around 40 hours, sometimes it is quite a bit less or quite a bit more. The ...
6
votes
5answers
1k views

Can I make my savings keep in check with or beat inflation over a long time period via index funds?

Context: €13000 banked on a 1% savings account. €1700 banked on a payment account. €1450 monthly income (after taxes). ~€400 monthly costs, and probably another €200-400 in incidental expenditures ...
1
vote
1answer
155 views

In what order should I save?

I see the advice for managing finances in the US talking about financing a pension up to employer match, then do the next thing, then the next and so on. However, I'm in the UK, and I'd quite like a ...
1
vote
1answer
56 views

EU Start investing for longterm with partner who joins saving in a few years

First off, this question is related to this one. But in general, the answers are depending on the US-Situation. I would like to ask you the same question but specified on the Situation in the ...
4
votes
6answers
569 views

Pay for a cheap car or take out a loan?

I have $2,000 in total in my savings account for a car but I am starting a better paying job in three months and I will need a car to get to it. At the moment, I am biking to my current job. I am just ...
28
votes
8answers
6k views

Everyone says save at least 10% of your income. What counts as “saving”?

I made a financial planning spreadsheet a while back. Then, I realized that the money I'm saving has specific allocations. This much goes to the future car payment. This much goes to the new PC I'm ...
1
vote
1answer
137 views

Everyone says you should start saving young. However, should my priority be to pay off my mortage? [duplicate]

Everything I read says you should use time to your advantage and start saving as soon as possible. However, I have a home mortage with an interest rate higher that what one could expect to make out of ...
1
vote
2answers
83 views

Exposure to Irish Housing Market

I have the majority of my savings in Swedish fonds, with the rest in Global or European (non-Euro) fonds. Current value = €50k. I also own property in Stockholm. Current value = €200k. I am 35 and ...
-2
votes
1answer
58 views

Is there a saving for masses of people that is fair for all sides? [closed]

I am not sure it exists so I ask, is there investment options for masses of people (like crowd funding) - that can give them a higher percentage of return?